GOSSELIES, Belgium--(BUSINESS WIRE)--OncoDNA (“OncoDNA or “the Company”), the healthcare technology company making precision medicine a reality, today announced that it has completed a €19 million ($20 million) Series B equity financing. The new funding will support rapid international growth, accelerate software development and hiring initiatives.
The round was led by Vesalius Biocapital III and Swisscanto Invest by Zürcher Kantonalbank with the significant support of SFPI-FPIM. Historical shareholders together with CPH Bank, Inventures, Sambrinvest, Sofinim (Ackermans & Van Haaren) and SRIW have also participated. This represents another landmark achievement after the €8 million Series A fundraising closed in September 2016.
OncoDNA is now maximizing the fast and proper rollout of its oncology clinical decision support software OncoKDM® with the objective of becoming the European leader in oncogenomic data interpretation and reporting to further support molecular laboratories, healthcare professionals and the pharma industry in their daily research and clinical practice.
Jean-Pol Detiffe, Founder & Chief Executive Officer at OncoDNA: “We are delighted to have successfully raised sufficient new capital from such quality investors who will enable us to grow and increase our support to oncologists and cancer patients with our data driven solutions. OncoDNA is already positioned as the European champion for cancer precision medicine as we built a worldwide network of more than several thousand oncologists. Our next move is to connect molecular laboratories to our advanced data interpretation tools, which we pride ourselves on now being possible thanks to the support of our new investors.”
Guy Geldhof, Partner at Vesalius Biocapital III S.C.A. SICAR said: “We are excited about co-leading the Series B investment in OncoDNA. It is thrilling to work with a team that has both world class experience in genomic molecular profiling and a strong desire to serve patients by offering best-in-class support to oncology professionals. We are confident OncoDNA will accelerate the development and commercialization of its valuable new solutions, especially through closer collaborations with the biopharma industry, with the final objective of contributing to better healthcare.”
Robert Schier, Partner at Swisscanto (CH) Private Equity Switzerland Growth I KmGK added: “OncoDNA has grown significantly over the past years and are continuing to add the necessary clinical expertise and know-how to act upon its mission. Its disruptive vision and highly integrated market approach make it to be the perfect candidate to rapidly become the European leader in oncology big data. We are delighted to partner with OncoDNA as we firmly believe the company contributes to both a more sustainable healthcare system and improved patient health outcomes.”
“Considering our important investment in OncoDNA, alongside players like Vesalius Biocapital III and Swisscanto, we are convinced that the company has all the necessary means at a key moment of its development to successfully carry out appropriate projects to assist and support oncologists in prescribing the most optimal therapeutic treatments to patients. We are happy to count on the support of our colleagues from SRIW and Sambrinvest as historical stakeholders” concluded François Fontaine, at SFPI-FPIM.
OncoDNA is a private, oncology-focused healthcare technology company that combines advanced, comprehensive testing of all clinically relevant cancer biomarkers (DNA, RNA and protein profiles) from both solid and liquid biopsies with a proprietary cancer treatment knowledge database. This one-stop-shop analysis and interpretation service gives oncologists actionable results to enable the selection of treatments tailored to the individual patient’s cancer profile. For laboratories worldwide with NGS facilities who would like to reach the same level of expertise, we provide them with state-of-the-art interpretation software to improve their oncology-oriented analyses routine work. The software OncoKDM is a web-based tool that processes oncology raw NGS data to turn data into clinical insight such as treatment options or clinical trials. OncoDNA also works in collaboration with the biopharma industry to develop and deliver the treatments of tomorrow by assisting with design, enrolment and assessment of clinical trials as well as increasing access to approved precision medicines. The company is based in Gosselies, Belgium, employs 50 employees in 4 countries, works with an international network of 35 distributors covering approx. 50 countries and is collaborating with a sub-contracted laboratory of 300 collaborators.